The Petrobras Council rejects one more name nominated by the Federation

It is the fourth name of the government deemed ineligible to form the company’s new board of directors, which will be elected on April 27.

board of directors Petrobras He rejected another name nominated by the federation for the group: former legal adviser to the Chamber of Deputies, Renato Campos Gallupo. As he discovered it The power is 360is the fourth name of the government deemed ineligible to form the new board of the state-owned company, which will be elected on April 27.

Galuppo was deemed ineligible to have a party affiliation and had no proven experience in the SOE’s area of operations.

In a previous meeting, the university also declined the name of the executive secretary of the Department of Mines and Energy, Efrain Cruz. In March, it deemed the Secretary of the Ministry, Pietro Mendez, and the leader of the Social Democratic Party and former Minister of Luis Inacio Lula da Silva (Workers’ Party), Sergio Resende, ineligible.

The current board members of the state-owned company met in the morning and afternoon of Friday (April 14, 2023) to vote on the nominations. In addition to Galuppo, 3 other names were analyzed:

Anelize Lenzi Ruas de Almeida, nominated by the Federation;
Marcelo Gasparino, nominated by minority shareholders;
Jose Joao Abdullah, nominated by minority shareholders.

a The power is 360 It found that the College approved Annlies, the Attorney General of the National Treasury, by a majority. Some members felt that the activities of the Public Prosecutor conflicted with the interests of Petrobras in tax proceedings with the national treasury.

It is the same case for the nomination of Ricardo Soriano, Prosecutor General of the National Treasury, by the government of former President Jair Bolsonaro. In the end, the union managed to put Soriano on the board of directors, but the lawyer faced lawsuits at CVM (Securities Commission).

The Board of Directors approved the appointment of minority shareholders, holders of common shares managed by Banco Clássico, ESH Capital and RPS Gestora de Recursos. Abdallah and Gasparino were already members of Petrobras’ board of directors.

At a previous meeting, Efrain had been dismissed for being the Executive Secretary of the Ministry of Mines and Energy, which could constitute a conflict of interest. a State Law It also prohibits the participation of representatives of the executive authority in the group.

This is the case of Pietro Adamo Sampaio Mendez, Minister of Petroleum, Natural Gas and Biofuels in the Government. He was nominated for college president, but Cobb, the board of directors, and CVM deemed him ineligible.

These must be the last names of the association to be analyzed by the board of directors before the meeting of shareholders, scheduled for April 27, which will elect the new composition of the association.

At the meeting held on March 27, the Petrobras Board of Directors analyzed 5 more names. Petro and Sérgio Rezende were deemed ineligible for the university and 3 names were approved: Suzana Kahn Ribeiro, Bruno Moretti and Vitor Saback.

Then, on April 4, Saback was appointed Secretary for Geology, Mining and Mineral Transformation in the Ministry of Mines and Energy.

Despite the prohibitions, the union can elect board members. Cope’s opinions and current university are recommendations to contributors. Since the government owns most of Petrobras’ shares, it can assign its votes to whatever names it wants.

Petrobras Board of Directors is elected through the multiple voting system, when shareholders multiply their shares in the total number of vacancies. The multiplied shares as votes shall be distributed among the nominated names. As the majority shareholder, the union managed to win the majority of the board members. However, they may face lawsuits in CVM.